I do not understand the math that goes into questions 13-16

answer next four questions based on the following direct quotes from the spot and forward markets for pounds, yens and pesos, for three points in time: now, 1/1/XX, one month later. 2/1/xX, three months later, 4/1/xx, and six months later, 7/1/xx. PLEASE READ AND USE THE QUOTES CAREFULLY. I WILL NOT GIVE CREDIT FOR ERRORS DUE TO MISREADING OR USING THE WRONG QUOTES. 3 Britain Pound (spot) 1 month forward 3 month forward 6 month forward 1.5272 1.5242 1.5188 15175 1.5253 15243 1.5203 1.5165 1.5155 1.5152 1.5150 1.5170 15168 1.5165 1.5163 Japan Yen (Spot) 1 Month Forward 3 Month Forward 6 Month Forward 0.0094 0.0095 0 0.0100 0.0099 0.0100 00107 0.0111 0.0102 0.0110 0.0115 0.0118 0.0096 0.0092 0.0090 0.0085 Mexico Peso (spot) 1 Month Forward 3 Month Forward 6 Month Forward 0.0871 0.0877 0.0887 0.0891 00870 0.0866 0.0856 0.0850 0.0893 0.0898 0.0905 0.0916 0.0902 0.0906 0.0910 0.0918 13. Based on your knowledge of the quotes on all three periods, on 1/1/XX, you should be long on the: A) 3 month forward contract on Pound B) 6 month forward contract on Pound C) 3 month forward contract on Yen D) 1 month forward contract on Mexican Peso 14. Based on your knowledge of the Mexican Peso quotes on all three periods, on 1/1/Xx A) You should be long on the 1 Month Forward contract B) You should be short on the 3 month forward contract C) You should be long on the 6 month forward contract 15.On 1/1IXX, IBM bought a 3 month forward contract for 100 Million Japanese Yen from Bank One. Based on this transaction: A) IBM will pay Bank One $940,000 now and Bank One will pay IBM 100 Million yen in 3 months B) IBM will pay Bank One 100 million Yen in 3 months and Bank One will pay IBM S1.,020,000 in 3 mo C) IBM will pay Bank One $$1,180,000 in 3 months and Bank One will pay IBM 100 million Yen in 3 m D) IBM will pay Bank One $980,000 in 3 months and Bank One will pay IBM 100 Million Yen in 3 mon 16. Based on the transaction described above, IBM will incur awhen the contract expires: A) Profit of $40,000 B) Loss of $130,000 C) Profit of $170,000 D) Profit of $130,000 256